Nepal Seeks World Bank Loan to Combat Air Pollution
Nepal's government is in negotiations with the World Bank for a loan to fund the Nepal Clean Air and Prosperity Project, aimed at reducing air pollution.
The proposed project, valued at 20.8 billion rupees ($147.9 million), seeks to help industries reduce emissions, strengthen air pollution control mechanisms, and improve emergency response.
“With regard to the loan size, the amount is being finalized with the government based on the cost of the detailed project activities,”
said Akash Babu Shrestha, a spokesperson for the World Bank in Nepal. This move comes despite the government having raised billions of rupees through fossil fuel taxes over the past 16 years.
Author's summary: Nepal seeks loan to combat air pollution despite hefty taxes.